Category Archives: EnterConnect Inc. ECNI

A leading provider of business-ready SaaS (Software as a Service) portals, EnterConnect released its fiscal 2009 third quarter financial results in a press release also intended to bring its shareholders up to speed with regard to the latest company developments.

For the three-month period ended December 31st, 2008, EnterConnect reported an astronomical rise of 104 percent in total revenues over the corresponding period in 2007. Gross profits also rose significantly, 86 percent, but the company has made it abundantly clear that these numbers are simply not enough.

In an effort to increase sales, and the effectiveness of corporate strategies, the company announced a partnership with John Thomas Financial, through which it will be provided with financing and strategic advisory. In addition, the company has expressed interest in furthering its growth by assisting mid-market corporations with a need for consolidation of intranet, extranet, and Internet sites into one platform. This comes at a time when many companies are indeed being forced to trim the fat, often through the reduction of IT costs.

Sam Jankovich, CEO of EnterConnect had this to say: “While 2008 was a challenging year for the company, especially given the general economic conditions in the U.S., we are still very excited to report 104% growth in revenues for the quarter. Also this quarter, we have right-sized our business and have reduced our cash burn by 70%. We remain committed to building our subscription-based revenues through sales of our on-demand portal solutions as a cost-effective alternative for mid-sized companies during these difficult economic times.”

EnterConnect Inc. offers enterprise-proven on-demand business portals to address the requirements of specific industries, as well as business processes that are common across multiple industries to help companies increase customer satisfaction, growth and productivity. This basically brings the internet and combines them with a company’s intranet and extranet to produce one seamless platform onto which all services may be performed.

EnterConnect provides five different capabilities: CustomerConnect – provides rapid portal creation, and content and asset management, for supporting effective customer communication and collaboration. EmployeeConnect – provides all types of employee self-service functions, HR processes, workflows, forms, and document management. PartnerConnect – provides partner communication, collaboration and content sharing, both inside and outside the organization. TeamConnect – provides creation of any portal or website required to improve team communication, collaboration and productivity. WebConnect – provides independent, rapid creation and implementation of any number of intranets, extranets or internet web portals for small to large business entities.

The company today announced that it has signed a Letter of Intent to purchase V-Rooms(tm), a division of Due Diligence Online LLC, an Internet-based, on-demand service designed to speed the completion of financial transactions. V-Rooms enables clients, on a 24×7 worldwide basis, to accelerate complex, information-intensive business transactions and processes. This dovetails into the mission statement of EnterConnect perfectly and positions the joined forces as a key-player in the SaaS Financial Services space.

Dan Bradbary, chief executive officer of V-Rooms, stated: “EnterConnect offers a global platform and strategic technology partners like Oracle and Intel which we can leverage to penetrate the market and gain even greater exposure for our offerings. Our solution helps companies reduce operational costs and streamline processes; and in today’s world of mergers and acquisitions and distressed sales, saving money and moving quickly are paramount.”

EnterConnect, Inc. (ECNI.OB) is a company focused on delivering customers a reduced cost, accelerated time-to-value, increased productivity portal. EnterConnect assists clients in consolidating intranets, extranets, and internet sites into a single portal platform. This consolidation effort allows clients to recognize an immediate reduction in IT costs, see improved collaboration efforts, maximize business processes with better control of content and assets, and optimize results with a sustainable competitive advantage.

Since it was founded in 2006, the San Jose-based company has proven itself to be a pioneer in the Software-as-a-Service (SaaS) marketplace. Through the EnterConnect platform, partners, employees, and customers are able to securely consolidate, collaborate, and connect online from any location. Interestingly, the EnterConnect platform provides users with business-ready solutions that are easily managed by an in-house team that can ensure website consistency and rapid results.

The EnterConnect solution provides typical modules utilized across multiple industries. Campaign Management gives the user the ability to send personalized and important information to a number of audiences through the portal to drive targeted marketing campaigns that can deliver measurable sales results. Employee On-Boarding allows new employees to contact and collaborate with existing employees to seamlessly get up-to-speed on their new role to become productive assets. Channel Enablement allows retailers to effectively recruit, develop, educate, and support a sales channel and bring products and services to market more easily. Project Collaboration is a centralized portal resource for companies to share information, to manage documents and presentations, and to collaborate with peers, partners, and customers.

The demand for SaaS is becoming more popular as companies offer their software to customers who do not want or have the ability to take on huge IT infrastructure costs. Researchers estimate that, by 2009, the SaaS market will reach about $10.7 billion worldwide. EnterConnect can assist clients to seamlessly move their multiple systems onto a hosted SaaS model. EnterConnect provides a comprehensive assessment of a client’s needs, provides high-level consulting services on how to move to a hosted or on-demand model, and can deploy a rapid transformational team when needed.

As companies are becoming more global with multi-national offices, EnterConnect provides a platform that even the largest corporations can benefit from.

In an effort to increase its global visibility, EnterConnect has joined the Intel® Business Builder Program, a move that would seem to be in the company’s best interest. The program stands to increase the company’s value and credibility; Intel® certification puts the customer’s mind at ease, creating an advantage right from the start.

One of the first products to achieve certification, and appear on the Intel® Business Exchange, will be EnterConnect 8.8. This business portal assists businesses with every aspect of operation, from human resources to communications. By appearing on the Business Exchange, EnterConnect will become easily searchable and readily available to other organizations.

Sam Jankovich, President and CEO of EnterConnect stated, “We are very pleased to be partnering with Intel as part of the Intel Business Builder Program. EnterConnect’s solutions have a strong track record of proven success in the U.S. market and this collaboration will now enable us to reach new prospects on a global basis.”

EnterConnect Inc. (ECNI.OB) is the leading provider of on-demand portals that improve communication, collaboration, and business processes. These on-demand portals help companies increase their growth and productivity, while also increasing customer satisfaction. EnterConnect solutions are currently in use at more than 50 Fortune-1000 companies.

On July 10, 2008, EnterConnect announced the appointment of Tom Ashburn to the company’s board of directors. Mr. Ashburn has more than 30 years experience with leading global technology companies such as BEA Systems and Hewlett Packard. Mr. Ashburn was with HP for 33 years and, most recently, was president of BEA System’s worldwide field organization, with responsibility for sales, marketing, and services.